Whole Life Insurance information and comparisons
| User Rating: | |
| Factors to consider: | Payout, Premium, Policy cash value, participating/non-participating. |
| Definition: | A life Insurance plan with an unspecified period, under which the death benefits are paid on death whenever it may occur. |
| Payment: | Death benefits paid on death (in full) up to age 100 or 120. |
| Premium: | Higher premium as whole life insurance plans must always pay out eventually and builds a cash value |
| Types: | Whole life insurances are of different types: non-participating, participating, limited pay, single premium. |
| Advantages: | Level premiums distributed throughout life of insured and more affordable. |
| Policy Duration: | Whole Life |
| If alive at the end of the policy / coverage term: | Guaranteed payout |